The Weekly Earnings of Bus Drivers Are Normally Distributed with a Mean

question 48

Short Answer

The weekly earnings of bus drivers are normally distributed with a mean of $395. If only 1.1 percent of the bus drivers have a weekly income of more than $429.35, what is the value of the standard deviation of the weekly earnings of the bus drivers?

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Definitions:

Determinable Amount

A specific or calculable amount often related to liabilities or costs that can be precisely identified or determined.

Income Statement

A financial report that displays a company's revenues, expenses, and profits or losses over a specific period of time.

Commissions

Fees paid to salespersons or agents for facilitating sales, based on the value or volume of those sales.

Store Rent

The cost associated with leasing or renting a physical space for retail operations, recorded as an expense.